HONOLULU — A partnership between Taubman, CoastWood Capital Group and Queen Emma Land Co. has opened Taubman’s International Market Place in the Honolulu neighborhood of Waikiki. The 345,000-square-foot, open-air shopping center is home to Hawaii’s first Saks Fifth Avenue, among other retailers and restaurants. Amenities at the center include a 700-space parking garage, valet parking, electric vehicle charging stations and complimentary wi-fi.
SUN PRAIRIE, WIS. — Scannell Properties has broken ground on a 102,125-square-foot industrial and office facility for Kollege Town Sports in Sun Prairie, approximately 15 miles northwest of Madison. Kollege Town Sports is a division of Riddell, a designer and developer of athletic apparel and equipment. The building, situated on 13 acres, will support operations such as sales, production and warehousing. Kollege Town will transition to the new facility from its current location in Windsor in spring 2017. The project team includes Avison Young, real estate consultant and construction manager; Incentis Group, public incentives consultant; Scannell Properties, developer; Heitman Architects, architect; Sullivan designBUILD, general contractor; and Quam Engineering, civil engineer.
LOUISVILLE, KY. — Texas-based operator Civitas Senior Living and Ohio-based developer Guttman Properties will join forces to develop The Grand of Prospect, a luxury seniors housing community in Louisville. Development costs are estimated at $20 million for the 168-unit independent living, assisted living and memory care community. The Grand of Prospect will be located on 14.8 acres. Construction is scheduled to start in the fourth quarter of 2016 for completion in the first quarter of 2018. The project team includes Louisville-based civil engineer Mindel, Scott and Associates Inc. and Columbus, Ohio-based architect pH7 Architects. Guttman and Civitas will co-own the property upon completion.
NEW YORK CITY — Meridian Capital Group has arranged $17.9 million in construction financing for the development of a multifamily property located in the Jamaica neighborhood of Queens. David Hayum and Tal Savariego of Meridian secured the three-year, interest-only construction loan, provided by a regional balance sheet lender, for the Long Island-based borrower. Located at 177-30 Wexford Terrace, the ground-up development will feature 68 apartments and a community facility.
AUSTIN, TEXAS — Austin-based JTM Development will break ground next week on Walsh Tarlton Overlook, a 55,000-square-foot office building in southwest Austin. Located just north of Capital of Texas Highway (Loop 360) and west of the Barton Creek Square Mall, the three-story building is located at 2530 Walsh Tarlton Lane. Sixthriver Architects designed the project, which will feature limestone, marble and walnut finishes throughout the building, as well as in the elevator lobbies and elevators. The structure includes a five-floor parking garage beneath the building. Walsh Tarlton Overlook is scheduled to open in 2017. The Burt Group is the general contractor on the project. TBG Group designed the landscaping. JTM Development is partnering on the project with Cypress Real Estate Advisors, which has owned the 16-acre site since 2007. Cypress received approval from the city of Austin to rezone the property for mixed-use development in 2011.
BILLINGS, MONT. — The Hotel Group has completed a multi-million-dollar renovation on the newly rebranded, 289-room DoubleTree by Hilton Billings. The transformation includes a lobby redesign, updated guest rooms and meeting spaces, new furnishings and amenities. The hotel features 16,000 square feet of flexible meeting space that can accommodate business conferences, banquets and other events for up to 400 guests. There are also three additional ballrooms and 15 meeting rooms. DoubleTree by Hilton Billings is three miles from Billings Logan International Airport.
IRVINE, CALIF. — Lincoln Property Co. and Alcion Ventures have announced eight chef-driven tenants to open at Trade Food Hall in Irvine. Lincoln and Alcion purchased the 32,600-square-foot Trade Marketplace in 2014, and have since transformed the project’s food court into a 9,000-square-foot food hall. Tenants to open within the food hall include Chef Andrew Gruel’s Two Birds and Butterleaf; Chef Hop Phan’s Dos Chinos and Megadon; The Sandwich Society; Portside; Sweet Comforts; and Gyro King. Ootoro Sushi and KRISP Fresh Living will anchor the property, which is set to feature a mix of service-oriented and soft goods retailers. The project is scheduled to open this fall.
BEE CAVE, TEXAS — Hat Trick Development plans to build a medical office project known as the Medical Towers at Bee Cave. Alive and Well wellness center will be the lead tenant at the property, occupying 8,000 square feet. The 80 percent-leased development is located on a 2.1-acre site off the northwest corner of RM 620 and State Highway 71 in Bee Cave. Tenants in the 23,000-square-foot project will include Lone Star Podiatry and River City Docs. Adam Metcalf is the owner of Alive and Well. Construction should begin in September and will be completed by the end of 2017. H+SP is the project’s architect, LJA Engineering Inc. is the engineering firm and Structura Inc. is the general contractor.
HOMEWOOD, ILL. — Krispy Kreme will open a new store in Homewood, approximately 25 miles south of Chicago. The donut franchise will build a ground-up facility on an outparcel to a Home Depot and Jewel-Osco. This store, to be located at 17815 S. Halsted St., will be the first of eight locations opened in the Cook county area. Currently the Chicago area has only one Krispy Kreme store, which is situated in Elk Grove Village. The new Homewood location will be the franchise’s first retail location opened in the Chicago area in seven years. Lynne Brackett and Adam Foret of CBRE represented the landlord in the transaction.
KING OF PRUSSIA, PA. — Simon has completed a 155,000-square-foot expansion at King of Prussia Mall, a shopping center located about 25 miles northwest of Philadelphia in King of Prussia. The project, which broke ground in summer 2014, adds 50 new retail and dining storefronts and increases the mall’s footprint to 2.9 million square feet. The expansion involved connecting the five-anchor, 1.7 million-square-foot plaza and the two-anchor, 902,000-square-foot court, which were separated by a roadway since initial construction. The expansion is also bringing first-to-market brands and new dining and retail options to the mall, including Altar’d State, Calligaris, Cartier, CH Carolina Herrara, Club Monaco, David Yurman, Diane von Furstenberg, Gap, Jimmy Choo, MCM, Robert Graham, Stuart Weitzman, Superdry, Vince Hai Street Kitchen, Nicoletta and Shake Shack.